The National Company Law Appellate Tribunal has directed the new board of the debt-ridden IL&FS Group to distribute Rs 16,361 crore of cash and InvIT units available across the Group to its creditors on pro-rata basis. The interim distribution award of Rs 16,361 crore includes Rs 11,296 crore in cash and Rs 5,065 crore in InvIT units (Infrastructure Investment Trusts) and a majority of this is to be distributed to the creditors of three large group firms -- IL&FS, IFIN and ITNL. "The interim distribution shall be confined only to the entities as reflected in Annexure-6 except those excluded and for the amount of Rs 16,361 crores i.e Rs 11,296 crore of cash and Rs 5,065 crores of InvIT Units," said an order by a two-member NCLAT bench headed by Chairperson Justice Ashok Bhushan.
Rising for the fourth straight day, benchmark indices Sensex and Nifty settled marginally higher after a choppy session on Friday, tracking mixed global trends amid uncertainties on the geopolitical front. The BSE Sensex opened weak and declined 414.44 points to 55,049.95 in opening deals. But within minutes, it pared all its losses and jumped 369.56 points to 55,833.95. Facing volatility, the index finally settled at 55,550.30, higher by 85.91 points or 0.15 per cent.
Passenger and commercial vehicle prices are expected to rise as automobile companies invest in upgrading vehicles to meet stricter emission norms that kick in from April next year. The Indian automobile industry is currently working to make their products meet the second phase of Bharat Stage VI, equivalent to Euro-VI emission norms, in real time driving conditions. Four-wheeler passenger and commercial vehicles will need more sophisticated equipment to be added to meet the next level of emission standards.
The 11 convicts on Monday walked out of the Godhra sub-jail after the Gujarat government allowed their release under its remission policy.
Titan was the top gainer in the Sensex pack, rallying over 5 per cent, followed by Bajaj Auto, Bajaj Finserv, SBI, Nestle India, ITC, Axis Bank and Tata Steel. Nifty rose 46 points to its fresh closing peak of 17,991.95.
'We deeply apologise for a post that was published on some KFC social media channels outside the country. We honour and respect India, and remain steadfast in our commitment to serving all Indians with pride,' according to a message on KFC India official account on Twitter.
Equity benchmarks mustered gains for the first time this week on Thursday as investors piled into the recently-battered metal, bank and IT stocks amid expiry of monthly derivative contracts. Snapping its three-session losing streak, the 30-share BSE Sensex rallied 503.27 points or 0.94 per cent to settle at 54,252.53. On similar lines, the broader NSE Nifty gained 144.35 points or 0.90 per cent to end at 16,170.15.
Most members of the monetary policy committee (MPC) argued for front-loading interest rate hikes in view of rapidly rising inflation during the off-cycle monetary policy review earlier this month - the minutes of the meeting published on Wednesday showed. In early May, the rate setting committee met unscheduled and unanimously decided to hike the repo rate by 40 bps. This was the first repo rate hike in four years, and an inter-meeting hike in more than a decade.
Investors' wealth has eroded by over Rs 6.15 lakh crore in three days of market decline amid weak global cues and persistent selling by foreign funds. The BSE benchmark Sensex tumbled for the third straight session on Friday to close at 59,306.93, down 677.77 points or 1.13 per cent. In three days, the 30-share index has lost 2,043.33 points or 3.33 per cent.
The Supreme Court on Tuesday remarked the Gujarat government's reply to pleas challenging the remission granted to 11 convicts in the Bilkis Bano gang-rape case is very bulky wherein a series of judgments have been quoted but factual statements are missing.
Titan was the top gainer in the Sensex pack, zooming over 10 per cent, followed by M&M, Maruti, IndusInd Bank, Asian Paints, Sun Pharma, HCL, TCS, Tech Mahindra and ICICI Bank. The NSE Nifty rose 144 points to 17,790.35.
Kotak Bank was the top loser in the Sensex pack, shedding over 1 per cent, followed by ICICI Bank, Tech Mahindra, Bajaj Auto, Mahindra and Mahindra, SBI and Axis Bank. NSE Nifty tumbled 66.25 points to 15,748.45.
Private sector lender ICICI Bank has revised its external benchmark lending rate (EBLR) to 8.10 per cent, and state-owned Bank of Baroda has raised the rate to 6.90 per cent with immediate effect after the RBI hiked the key repo rate. Likewise, two other public sector banks -- Bank of India and Central Bank of India -- have also raised the repo linked lending rate. In an out of turn Monetary Committee Meeting (MPC), the Reserve Bank on Wednesday announced to hike the benchmark repo rate -- the short term lending rate it charges to banks -- by 0.40 per cent to 4.40 per cent with immediate effect, aimed at taming the rising inflation caused by the global geopolitical situation.
This is the fourth time in three decades that Aamir Khan and Akshay Kumar have had movie releases on the same day.
Markets regulator Securities and Exchange Board of India (Sebi) is examining allegations of front-running and other irregularities against a host of domestic fund managers across the asset management industry, said people in the know. Developments at Axis Mutual Fund have prompted the regulator to speed up probe to ensure that there is no drop in confidence in the Rs 39-trillion mutual fund (MF) industry. "We have received complaints against a few fund managers and are looking into possible violations, including those related to code of conduct," said a regulatory source, refusing to divulge names of fund houses as things are at a preliminary stage.
Digital payments and financial company Paytm is looking to hive off its payment aggregator business into a new subsidiary Paytm Payments Services Limited, according to a notice sent to shareholders for approval. The company is seeking approval of the same from its shareholders through an extraordinary general meeting on September 23. "To consider and approve transfer of Payment Aggregator business to Paytm Payments Services Limited, a wholly owned subsidiary of the Company, to comply with Reserve Bank of India guidelines, being considered as sale of undertaking," the EGM notice issued on August 31 said.
India's badminton great Prakash Padukone will receive the prestigious Lifetime Achievement Award this year from the Badminton World Federation (BWF).
India's largest telecom operator Reliance Jio gained 17.6 lakh mobile subscribers in October 2021 while market rivals Bharti Airtel and Vodafone Idea lost a cumulative 14.5 lakh users during the month, according to the latest data released by TRAI on Monday. Bharti Airtel lost 4.89 lakh mobile users in October, while Vodafone Idea lost 9.64 lakh subscribers during the reported period. Reliance Jio's mobile subscriber base surged to 42.65 crore in October, as the telco added 17.61 lakh mobile users in the month, according to data by the Telecom Regulatory Authority of India (TRAI).
Tata Motors on Tuesday launched its second electric vehicle -- Tigor EV, catering to the personal segment in the domestic market, priced between Rs 11.99 lakh and Rs 13.14 lakh (ex-showroom). The model comes in three variants, priced at Rs 11.99 lakh, Rs 12.49 lakh and Rs 12.99 lakh. A dual tone top-end trim is tagged at Rs 13.14 lakh. The auto major has already achieved success with its first electric model, Nexon EV and now commences deliveries of Tigor EV from around 150 sales outlets in 70 cities across the country.
Titan was the top loser in the Sensex pack, shedding over 3 per cent, followed by M&M, HUL, Maruti, Asian Paints and IndusInd Bank. Nifty fell 91 points to 17,157.40.
HCL Tech was the top gainer in the Sensex pack, rising over 4 per cent, followed by TCS, Bajaj Finserv, Nestle India, Bharti Airtel, Bajaj Finance and Tech Mahindra. NSE Nifty advanced 45.95 points to 16,496.45.
Tata Steel was the top gainer in the Sensex pack, rallying nearly 7 per cent, followed by Bajaj Finserv, SBI, HCL Tech, Sun Pharma, Bajaj Finance and Reliance Industries. NSE Nifty advanced 69.05 points to 15,778.45.
HDFC Bank, the country's largest private-sector lender, lost to competition wholesale loans of around Rs 50,000 crore after it increased interest rates in May, said Chief Financial Officer Srinivasan Vaidyanathan in an analyst call. "There were some customers who were offered lower rates by other market participants. "But we decided not to cut back on our rates," he said while addressing analysts after the announcement of the bank's Q1 earnings.
Bharti Airtel was the top gainer in the Sensex pack, jumping around 3 per cent, followed by Nestle India, Tata Steel, Bajaj Finserv, HCL Tech and ITC. NSE Nifty rose 15.75 points to settle at 17,369.25.
Markets regulator Sebi has restrained an Infosys employee and his connected person, who is an employee of Wipro Ltd, from the securities market till further orders in a matter related to alleged insider trading in Infosys shares. The market regulator has also directed impounding of illegal proceeds of Rs 2.62 crore, according to a Sebi order dated September 27. The alert system of Sebi had generated insider trading alerts for Infosys' scrip around the corporate announcement about the strategic partnership of Infosys with Vanguard.
BSE benchmark Sensex plummeted over 388 points to close at 58,576.37 on Tuesday, tracking weakness in index majors Wipro, RIL and Bharti Airtel amid a weak trend in global markets. Investors also remained cautious ahead of crucial macroeconomic data announcements -- industrial production for February and inflation rate for March -- post trading hours. The Sensex declined 388.20 points or 0.66 per cent to settle at 58,576.37. During the day, the benchmark tanked 666 points or 1.12 per cent to 58,298.57.
Tata Motors is looking to ramp up the production of electric vehicles as demand continues to outpace the manufacturing activity by a huge margin, according to a top company official. The Mumbai-based automaker, which led the passenger electric vehicle space in the domestic market in last fiscal year, has been receiving an average of 5,500-6,000 bookings in the past two months for its EV range. The company sells three electric products -- Nexon EV, Tigor EV and XPRES-T -- in the domestic market.
Maruti was the top gainer in the Sensex pack, rallying over 6 per cent, followed by M&M, Bajaj Auto, NTPC, Reliance Industries and HDFC Bank. NSE Nifty advanced 1.90 points to record 17,855.10.
SBI was the top gainer in the Sensex pack, advancing over 2 per cent, followed by L&T, ITC, Dr Reddy's, Axis Bank and PowerGrid. NSE Nifty rose 22.40 points to 15,197.70.
Renowned social worker Sindhutai Sapkal, fondly known as 'orphan children's mother', died following a heart attack at a private hospital here, doctors said.
M&M was the top loser in the Sensex pack, shedding around 3 per cent, followed by Tata Steel, Bajaj Finserv, TCS, HDFC and Infosys. NSE Nifty declined 55.95 points to 17,076.25.
Tata Motors is actively considering tapping into some of the export markets beyond South Asia, for its range of electric vehicles (EVs) as it sees an opportunity of selling affordable EVs in markets outside India. The export plans will coincide with the commercial launch of the Curvve - an electric SUV concept that broke cover on Wednesday, in two years from now, Shailesh Chandra, MD, Tata Motors PVs and Electric Mobility, told Business Standard. "We are actively thinking of the international markets and we would like to go with a portfolio of products. "We have identified a few markets and in a couple of years, we should commence the same," said Chandra.
A Patna court has directed the police to lodge an FIR against RJD leader Tejashwi Yadav, his MP sister Misa Bharti and some other political figures on the complaint of a person who has alleged he was duped of Rs 5 crore with the promise of a Lok Sabha ticket in the 2019 general elections.
Tata Motors is planning to invest Rs 15,000 crore in the EV segment in the next five years, a top company official has said. The company, which is a leader in the newly emerging EV segment with offerings such as Nexon, is also planning to develop around 10 more new offerings in the segment, president for Passenger Vehicles Business of Tata Motors Shailesh Chandra said. "As far as future is concerned, in next five (years) we will invest Rs 15,000 crore in electrification.
The production of eight infrastructure sectors rose by 7.5 per cent in October on healthy performance by the segments of coal, natural gas, refinery products and cement, official data released on Tuesday showed. The output of eight core sectors of coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity had contracted by 0.5 per cent in October 2020, according to the data released by the commerce and industry ministry. Core sectors' growth stood at 4.5 per cent in September this year.
Kotak Bank rose the most among Sensex scrips, spurting 2.92 per cent amid reports that LIC will up its stake in the private lender to 10 per cent. Gains in HCL Tech, TCS, Infosys, HDFC Bank, Bajaj Finance and Titan helped Sensex close in the green. NSE Nifty edged higher by 27.50 points to end at 17,053.95.
Benchmark indices bounced back on Wednesday after falling for five straight sessions, with investors snapping up the recently-mauled IT, finance and consumption stocks amid a supportive trend overseas. A rebounding rupee further bolstered sentiment, traders said. Halting its five-session slide, the BSE Sensex jumped 574.35 points or 1.02 per cent to finish at 57,037.50. Similarly, the NSE Nifty surged 177.90 points or 1.05 per cent to 17,136.55.
Digital payments firm Paytm is expected to seek shareholders' approval to raise up to Rs 16,600 crore through an initial share sale, giving it a valuation of over Rs 1.78 lakh crore, according to a source. The extraordinary general meeting of Paytm is scheduled for July 12 in which the company may seek approval to raise up to Rs 12,000 crore through issuance of fresh equity. Another Rs 4,600 crore is expected to be raised from the sale of equity shares by existing and eligible shareholders, according to the source.
'Investors need to expect steady returns over the next one to two years with bouts of high volatility.'
Reliance Industries was the top gainer in the Sensex pack, rising over 1 per cent, followed by ICICI Bank, SBI, HDFC, M&M, Axis Bank, Bajaj Finance, Titan and Infosys. NSE Nifty advanced 42.20 points at 15,722.20.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances